Specifies a penalty fee to be applied if a document is not filed with the Companies Registry within the expected filing time.
Note: Only for use by the Trinidad & Tobago Companies Registry.
Description
This entry defines a penalty fee to be applied if a document is not filed with the Companies Registry within the expected filing time. For example, an annual return must be filed within 30 days of the anniversary date of the registration of the company (e.g. if a company is registered on 01/01/2020, the 2021 annual return must be filed sometime between 01/01/2021 and 30/01/2021). If the document is not filed within the expected filing time, a penalty fee is applied.
Usage
This Registry entry is assigned at the system level only:
| Key | System |
|---|---|
| Key 1 | System
|
| Key 2 | Setting
|
| Key 3 | Penalty Rates
|
| Key 4 | product code |
| Value | grace period AND fee |
In pipe-delimited format:
System
|
Setting
|
Penalty Rates
|
product code | grace period AND fee |
where:
|
product code |
is the product code for the product that the fee applies to (only products which incur a late fee should be specified). In the case of the Companies Registry the majority of product codes start with an |
|
grace period AND fee |
defines a grace period and fee. In both cases a numeric value is followed by either:
For example: the due date for an Annual Return is the anniversary date of the registration of the company. To avoid a fee, a company registered on 01 January 2020 must therefore file its 2021 annual return from 01 January 2021 until the end of the grace period. If the grace period and fee is:
this company has from 1 January until 30 January to file its return. For each calendar month (or part thereof) beyond the grace period, a fee of $300 will be charged. Note: A calendar month is defined as "a period of time between the same dates in successive calendar months", e.g. 31 May to 30 June, 12 February to 11 March, 1 January to 31 January. |
Example
In this example, a grace period of 30 days is provided for filing of Form 28 - Annual Return of a Profit Company; beyond the grace period a charge of $300 per month or part thereof is charged:
| Key | Setting |
|---|---|
| Key 1 | System
|
| Key 2 | Setting
|
| Key 3 | Penalty Rates
|
| Key 4 | F28
|
| Value | 30D 300M
|
If the form is filed 1 day late or 1 month late, the charge is $300; if the form is filed 31 days late or up to 2 calendar months late, the charge is $600, and so on.